BEIJING: China's real estate investment trust (REITs) plan is now in the last lap of approval from the State Council.

"If everything proceeds as anticipated, the first batch of REITs may be launched in the second half of this year.
Only institutional buyers would be allowed to purchase the REITs initially," sources told China Daily on May 19. 

MUKAH (Sarawak): Twenty-three houses built on a road reserve along the Mukah-Matadeng Road here have been demolished by the Mukah Land and Survey Department.

Property

KUALA LUMPUR: The 6-storey “Camelot” (pictured), the castle-like bungalow along Jalan Changkat Duta in Taman Duta, Kuala Lumpur has been on the market asking for between RM10.5 million and RM11.5 million since the end of last year.

Diversified infrastructure proxy

• No surprises expected for 4QFYMar10, 1Q11 last quarter with low margins

• Low-margin legacy projects completing, confident of RM2bn new orders ex-India

• BUY, SOP-derived TP of RM6.00

KUALA LUMPUR: Kumpulan Europlus (KEuro) disposed of 110 million Talam Corp shares on May 17, reducing its shareholding to 24.11% .

A filing with Bursa Malaysia showed KEuro sold 90 million shares at 13 sen each and 20 million shares at 13.5 sen apiece on the same day.

KUALA LUMPUR: Several companies bought back shares yesterdday, listings on Bursa Malaysia on May 19 showed. Mudajaya Group Bhd bought back a total of 1,000 ordinary shares of RM0.20 each, purchased for RM5,217.56. Ken Holdings Bhd also did the same, buying a total of 10,000 shares for RM7,756.51. Brem Holdings Bhd bought back 22,000 ordinary shares of RM1 each, for RM25,781.38.

Well Within Expectation

SINGAPORE: Singapore's economy grew more strongly than expected in the first quarter, helped by a recovery in manufacturing, but the government warned of risks from asset price bubbles in Asia and the fallout from Europe's debt crisis.

KUALA LUMPUR: Bandar Raya Developments Bhd (BRDB)’s recorded group revenue of RM189.8 million for 1Q2010, down 7% against RM204.2 million over the same period a year ago, mainly due to lower property sales, it was announced on Bursa Malaysia on May 19.